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Attachment 4 <br /> <br />Model Conservation Easement Revised <br /> <br />Page 11 of 21 <br /> <br />12. TERMINATION OF EASEMENT. If it is determined by a court with jurisdiction <br />that conditions on or surrounding the Property have changed so much that it is impossible to fulfill <br />the Conservation Purposes set forth above, a court with jurisdiction may, at the joint request of both <br />Grantor and Grantee, terminate this Conservation Easement. <br /> <br />If condemnation of a part of the Property or of the entire Property by public authority renders <br />it impossible to fulfill any of these Conservation Purposes, the Conservation Easement may be <br />terminated by a court with jurisdiction. <br /> <br />At the time of the conveyance of the Conservation Easement to the Grantee, this <br />Conservation Easement gives rise to a real property right, immediately vested in the Grantee. If the <br />easement is terminated and the Property is sold or taken for public use, then, as required by Sec. <br />1.170A-14(g)(6) of the IRS regulations, the Grantee shall be entitled to a percentage of the gross sale <br />proceeds or condemnation award (minus any amount attributed to new improvements made after the <br />date of the conveyance, which amount shall be reserved to Grantor), equal to the ratio of the <br />appraised value of this easement to the unrestricted fair market value of the Property, as these values <br />are determined on the date of this Conservation Easement. The Grantee shall use the proceeds <br />consistently with the Conservation Purposes of this Conservation Easement. <br /> <br />13. PROCEDURE IN THE EVENT OF CONDEMNATION OR EMINENT <br />DOMAIN. Grantor and Grantee recognize that the partial sale of this Conservation Easement gives <br />rise to a property right, immediately vested in the Grantee, with a fair market value equal to the <br />proportionate value that the Conservation Easement bears to the value of the Property prior to the <br />restrictions imposed by the Conservation Easement. Accordingly, if any condemnation or eminent <br />domain action shall be taken, on all or part of the Property, by any authorized authority, said <br />authority shall be liable to the Grantee for the value of the property right vested in the Grantee at the <br />time of the signing of this Conservation Easement. <br /> <br />If condemnation or a taking by eminent domain of a part of the Property or the entire Property <br />by a public authority renders it impossible to fulfill any of the Conservation Purposes of this <br />Conservation Easement on all or part of the Property, this Conservation Easement may be terminated <br />or modified accordingly through condemnation proceedings. Grantor and Grantee agree that this <br />Conservation Easement is a currently vested real property right with a value equal to the <br />proportionate value of the Conservation Easement to the unencumbered value of the fee, as of the <br />date of this Conservation Easement. If the Conservation Easement is terminated or modified and any <br />or all of the Property is sold or taken for public use, then, as required by Section 1.170A-14(g)(6) of <br />the IRS regulations, the Grantee shall be entitled to the proportionate value of the Conservation <br />Easement, which has been predetermined at zero percent (0%) of the Property’s unrestricted value, <br />subject to any applicable law that expressly requires for a different disposition of the proceeds. <br /> <br />17